Question
Assume you start with $100 in a saving account that earns 5% per year.. The monthly interest rate is 5%/12 = .05/12. After the first
Assume you start with $100 in a saving account that earns 5% per year.. The monthly interest rate is 5%/12 = .05/12. After the first month there is 100 + (.05/12)*100 in the account
After the second month there is:
(.05/12)* (100 + (.05/12)*100) + (100 + (.05/12) * 100)
Thus each month is adding .05 times previous month to value as new saving value.
Write a program that reads in initial saving value ( $100 ) and interest rate (use .12 = 12%) per year and then figures out how much will be in the account after 4 months and prints results.
DO NOT USE Math.pow function to solve this problem
Do not use loop function
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